THE LONDON GOLD SCAM

“So what’s your answer bullion banks!”

Since I posted yesterday, a slew of articles over on ZH pointing out the “liquidity”

problems facing the LBMA in gold, and why gold went “tilt” yesterday

… “liquidity”? [cough, bullshit, cough] … that’s code for we fucked up by

hypothecating gold to anybody / everybody 100X over, and when the original

owner of the gold showed up for his/her gold, we didn’t have it, so we had to go

borrow for it and found out the interest rate for doing so had skyrocketed … so

sorry, we don’t have your gold, it’s locked up in a “Rube Goldberg” maze of

horseshit that stretches around the world about 18 times … welcome to the

scumbag world of the LBMA.

Outside of gold, which I said yesterday is “DONE” as a market, most markets

have returned to a semblance of normal … well, except at Turnkey, where I guess

they figure let’s clip ‘em for a while longer shall we? … directly below, a snapshot

of both “LIVE” platforms at Turnkey versus CRYPTO ROCKET … basically the

same time, and what separates them is the time it took to make the snapshots

… “somebody needs to have a talk with their LP’s”.

After today’s action, anybody want to challenge the euphemistic title of GBPUSD

as “The Widow Maker”? .... wicked shit too be sure, and no place to get an

“opinion” … do “stupid shit” in that FX pair when it’s awake, and you won’t be

around long … yes, it’s woken up … yes, it’s been asleep for about 10 - 12 years,

but the latest financial crisis hitting markets  has caused it to come alive … know

your FX history, or get destroyed.

Quite frankly, given the “market watch” boxes above, you can see what I’m up

against operating in a paradigm of higher spreads … I simply will not trade Cable

in a 3 - 5 PIP environment, and that’s not even counting any possible slippage

… over at CRYPTO ROCKET, I can trade Cable all day and night at right around 2

PIPS, and that’s AFTER commissions … everything priced for panic, but the panic

is over … for the most part, there’s no reason other than pure greed to have

spreads as high as they are … sadly, CRYPTO ROCKET has no PAMM / MAM

program, and from my talks with management there, they have no immediate

plans to do so anytime soon, as it simply costs too much to host the program

with the LP’s, and the PAMM / MAM software people … with the gold market

totally destroyed, crude oil a complete fucking joke in terms of spreads, unless

you’re at CRYPTO ROCKET where they remain at 3 cents round the clock, that

leaves FX & stock indices … that leaves me pretty much a choice between 2

markets … “stock bellies” SP500 and/or FTSE100 … both of these markets are

within fractions of an index point from their bid/offer spreads from a month ago

at Turnkey … all the others blown to shit, thank you very much, including ALL of

the FX crosses.

We started the week off in complete panic across the MT4 board, but the

difference between the 2 “stock bellies indices”, is that the SP500 has “limits”,

and the FTSE100 doesn’t … quite frankly, I don’t ever want to trade anything that

has “limits”, cuz “limits” are like gigantic magnets that pull a market to lock, and

who the fuck needs that? … these asshole LP’s keep changing the spreads, and

keep changing the way trading conditions go, from bat shit crazy to “sleepytime”

and then at the drop of a hat it’s back to bat shit crazy on meth … and with much

higher spreads, get on the wrong side of one of these blitzes, and you’ll soon

discover the pain, after they throw slippage into the equation.

So, cuz Turnkey’s scumbag LP’s refuse to make an honest market in Cable, really

the only thing left is the FTSE100, which I don’t mind trading at all, as long as

conditions don’t reflect the end of the fucking world in 5 minutes … this puppy

best traded from the European open to about 1 - 2 PM EST, a little after the

European close … after that it gets thin and the spread widens some … with

most of the pandemic news built into the market cake, barring some

development where the death rate suddenly climbs and bodies are being piled

into the street, for the most part the panic liquidation is over for now … doesn’t

mean I think the bottom is in, just that the sheer panic that caught people is

probably over … and given the uncertainty of the news flow, along with the end

of corporate buy backs, it looks like “stock bellies” can provide very good

up/down action. So, back to the FTSE100 this evening in Asia and beyond … it

would really be nice if these asshats could keep ANYTHING stable … is that

asking too much?

No trades today in the TURNKEY PAMM / MAM.

I will add that everything on the board is either straight up or straight down, with

“Hoover Dam” little in between … today’s FTSE100 a good example of this, as

the M30’s tell the story … they turn it on a “dime” and it’s off to the races … panic

buy followed by panic sell, rinse & repeat, the blood is everywhere … until

tomorrow mi amigos … Onward & Upward!! 

Have a great day everybody!

-vegas